When you "diversify" with mutual funds, you lower Business risk; you DO NOT LOWER MARKET RISK (systematic risk). You must incorporate in your portfolio, a non-correlated asset class which will not decline with the general market.
TIMES MORE IMPORTANT THAN OFFENSE. THE WEALTH YOU HAVE CAN BE SO EPHEMERAL; YOU HAVE TO BE VERY FOCUSED ON THE DOWNSIDE AT ALL TIMES.” Paul Tudor Jones, Founder, Tudor Investment Corporation
IS ONE WHICH, UPON THOROUGH ANALYSIS, PROMISES SAFETY OF PRINCIPAL AND AN ADEQUATE RETURN. OPERATIONS NOT MEETING THESE REQUIREMENTS ARE SPECULATIVE.” Benjamin Graham, Author of The Intelligent Investor (considered one of the best investment books ever written)
PLAY THEIR PROPER ROLE IN THE SCHEME OF THINGS. THEY HAVE ABDICATED THEIR OPPORTUNITY/RESPONSIBILITY AS IT PERTAINS TO THE BANKING FUNCTION IN THE ECONOMY. THEY ARE DEPEDNING ON SOMEONE ELSE TO PERFORM THAT JOB – AND THAT CHARACTER IN THE PLAY IS MAKING MOST OF THE MONEY! AND RIGHTLY SO, BECAUSE OF THE GOLDEN RULE –THOSE WHO HAVE THE GOLD MAKE THE RULES!” Nelson Nash, Author of Becoming Your Own Banker
INVESTORS IS TO NAVIGATE THE FINANCIAL MARKETS IN A MANNER THAT SIGNIFICANTLY REDUCES THE DESTRUCTION OF CAPITAL OVER TIME. BY SPENDING LESS TIME MAKING UP PREVIOUS LOSSES, OUR INVESTMENTS ADVANCE MORE QUICKLY TOWARDS OUR LONG-TERM OBJECTIVES.” Lance Roberts, Chief Investment Strategist, Clarity Financial
FUND PROSPECTUS, IN EVERY SALES PROMOTIONAL FOLDER, AND IN EVERY MUTUAL FUND ADVERTISEMENT (albeit in print too small to read), THE FOLLOWING WARNING APPEARS: “PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.” BELIEVE IT!” Paul Samuelson, Ph.D., Nobel Laureate in Economics, 1970
TO FUND MANAGERS AND MARKET STRATEGISTS, THIS YEAR’S HERO USUALLY TURNS INTO NEXT YEAR’S ZERO.” William Bernstein, Ph.D., M.D., Author of The Investor’s Manifesto
COMPANY WILL PROVE A GOOD LONG-TERM INVESTMENT. EVEN BUFFETT’S GENIUS LIES MORE IN RUNNING BUSINESSES THAN IN PICKING STOCKS. BUT IN THE INVESTING WORLD, THAT IS IGNORED. WALL STREET, WITH ITS ARMY OF BROKERS, ANALYSTS, AND ADVISERS FUNNELING TRILLIONS OF DOLLARS INTO MUTUAL FUNDS, HEDGE FUNDS AND PRIVATE EQUITY FUNDS, IS AN ELABORATE FRAUD.” Michael Lewis, Author and Financial Journalist
ADVISOR TALKS ONLY ABOUT RETURNS, NOT RISK? …IT’S HIS JOB TO TAKE RISK INTO ACCOUNT BY TELLING YOU THE RANGE OF POSSBILE OUTCOMES YOU FACE. IF HE WON’T, GO TO A NEW PLANNER, SOMEONE WHO WILL GET REAL.” William Sharpe, Nobel Laureate in Economics, 1990
TRUTH VERY CERTAIN THAT WHEN IT IS NOT IN OUR POWER TO DETERMINE WHAT IS TRUE WE OUGHT TO FOLLOW WHAT IS MOST PROBABLE.” Rene Descartes, Philosopher, Mathematician, Scientist
return is a recipe for at best, mediocrity, with a propensity for failure. Being successful in wealth creation is not a function of finding that high return (which increases your risk), but about controlling the banking equation in your own personal economy. Be Your Own Bank. Coordinate various financial products you buy, into what you can do with them, and that will dictate your success.
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